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what is phantom Phantom is a layer 1 distributed Ledger that offers seamless deployment of smart contracts on its Network the platform uses an advanced dag directed a cyclic graph which involves seamless interaction of computer nodes in a network to ensure fast and secure transactions dag smart contract platform was designed to outstrip the problems of the previous wave of blockchain platforms Phantom uses a distinct proof of stake coas model which is an independent layer called the laces protocol to achieve consensus the goal of this protocol is to be integrated into the evm compatible smart contract chain called The Phantom Opera chain essentially it allows several projects to be built on the Phantom Opera chain to enjoy the basic functionalities of phantom this includes Swift transactions and minimal transaction costs for all users while maintaining effective security